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Lucy Xiaolu Wang
''A cost-benefit analysis of the medicines patent pool''
( 2023, Vol. 43 No.3 )
Understanding the cost and benefit of global public health institutions is important but challenging. This study provides a cost-benefit analysis of the first public health-oriented patent pooling and licensing institution, the Medicines Patent Pool (MPP), which is devoted to improving generic drug licensing and supply in low- and middle-income countries. A simple structural model of demand and supply is estimated on a dataset that covers 103 LMIC and 29 HIV drugs with data on sales, MPP licenses, patents, country-year level diseases and demographics, and institutional factors during 2007-2017. Counterfactuals are simulated in the absence of the MPP or with further expansions. The estimated benefits to consumers and firms far exceed the operating costs.
Keywords: cost-benefit analysis, Medicines Patent Pool, drug access, low and middle-income countries, structural model
JEL: O3 - Technological Change; Research and Development: General
I1 - Health: General
Manuscript Received : Jan 30 2023 Manuscript Accepted : Sep 30 2023

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